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� <br /> � " . <br /> the sale, assignment or other transfer of all or a majority of Grantee's assets or the assets <br /> comprising the Cable System to any Person; (ii) the merger of the Grantee or any of its <br /> parents with or into another Person (including the merger of Grantee or any parent with <br /> or into any parent or subsidiary corporation or other Person); (iii)the consolidation of the <br /> Grantee or any of its parents with any other Person; (iv)the creation of a subsidiary <br /> corporation or other entity; (v)the sale, assignment�or other transfer of capital stock or <br /> partnership, membership or other equity interests in Grantee or any of its parents by one <br /> or more of its existing shareholders, partners, members or other equity owners so as to <br /> create a new Controlling Interest in Grantee; (vi)the issuance of additional capital stock <br /> or partnership, membership or other equity interest by Grantee or any of its parents so as <br /> to create a new Controlling Interest in Grantee; and (vii) the entry by the Grantee into an <br /> agreement with respect to the management or operation of the Crrantee, any of Grantee's <br /> parents and/or the System or the subsequent amendment thereo£ The term "Controlling <br /> Interest" as used herein is not limited to majoriiy equity ownership of the Grantee, but <br /> also includes actual working control over the Grantee in whatever manner exercised. <br /> (c) Grantee shall notify City in writing of any foreclosure or any other judicial <br /> sale of all or a substantial part of the property and assets comprising the Cable System of <br /> the Grantee or upon the termination of any lease or interest covering all or a substantial <br /> part of said property and assets. <br /> (d) For the purpose of determining whether it shall consent to such change, <br /> transfer or acquisition of control, City may inquire into the qualifications of the <br /> prospective transferee or controlling party. Grantee agrees to provide FCC Form 394 as <br /> part of any request for transfer or change of control under this Franchise. If, after <br /> considering the legal, financial, character and technical qualities of the transferee and <br /> determining that they are satisfactory,the City finds that such transfer is acceptable, the <br /> Council shall permit such transfer and assignment of the rights and obligations of this <br /> Franchise as may be in the public interest. The consent of the Council to such transfer <br /> shall not be unreasonably denied. <br /> (e) Any financial institution having a security interest in any and all of the <br /> property and assets of Grantee as security for any loan made to Crrantee or any of its <br /> affiliates for the construction and/or operation of the Cable System must notify the City <br /> that it or its designee satisfactory to the City shall take control of and operate the Cable <br /> System, in the event of a default in the payment or performance of the debts, liabilities or <br /> obligations of Grantee or its affiliates to such financia.l institution. Further, said financial <br /> institution shall also submit a plan for such operation of the System within thirty(30) <br /> days of assuming such control that will insure continued service and compliance with all <br /> Franchise requirements during the term the financial institution or its designee exercises <br /> control over the System. The financial institution or its designee shall not exercise <br /> control over the System for a period exceeding one (1)year unless extended by the <br /> Council in its discretion and during said period of time it shall have the right to petition <br /> the Council to transfer the Franchise to another Grantee. <br /> (� In addition to the afarementioned requirements in this Section 9(1), the <br /> City and Grantee shall, at all times, comply with the requirements of Minnesota Statutes <br /> ��t2�6�2 22 <br />